I have a 60K plus credit card with BOA. I use it occasionally. I would love to cancel it but would need to find another 60K plus card. I imagine that would be difficult in this market.
I guess principal does have a price
I am guessing what you would have to do is lower the credit limit on the B of A card first. Apply for another card then drop the B of A card. Personally, I would spread out that credit limit on several different cards.